DAT signs comprehensive collaboration agreement with OCB for Solar Development

On October 6, 2020, DAT Group and Orient Commercial Joint Stock Bank (OCB) officially signed a comprehensive cooperation agreement to implement a program for investment and development of solar energy in Vietnam.

Following the issuance of Government Decision 13 on the mechanism to encourage solar energy development, along with the support and favorable conditions provided by the Vietnam Electricity Group (EVN), numerous investment opportunities in solar energy have emerged, attracting various organizations and businesses keen on investing in clean energy. As of October 1, 2020, there were more than 54,220 rooftop solar projects installed nationwide, with a total capacity of 1,505 MWp (according to EVN’s statistics).

To expand the ecosystem and meet the substantial demand of customers, as well as address the capital investment challenge in solar energy, DAT entered into a comprehensive collaboration with Orient Commercial Joint Stock Bank (OCB), introducing a solar installation financing solution. The signing ceremony at OCB’s headquarters in Ho Chi Minh City was successful and demonstrated the comprehensive strategy aimed at leveraging the strengths of both parties:

+ On the bank’s side, OCB will provide financial solutions for customers to invest in rooftop solar installations with attractive and competitive credit limits, terms, and interest rates.

+ On DAT’s side, a complete solar system package will be provided, covering consultation, survey, design, equipment, installation, and maintenance. This ensures the efficient operation, high performance, and output of the solar system throughout its lifecycle.

Additionally, both parties have special incentives for customers until December 31, 2020.

By signing this comprehensive cooperation agreement, DAT and OCB bring high-quality solar solutions and flexible financial solutions, providing leverage for businesses and factories to invest in clean energy, reduce production costs, and help investors expand their scale to sell electricity to EVN.

During the signing ceremony, Mr. Dinh Long Truong, Deputy CEO in charge of the MSME Division of Orient Commercial Joint Stock Bank (OCB), shared: “OCB aims to build a green energy ecosystem with its partners, offering optimal cost-effective investment solutions and increasing operational efficiency for businesses. The timely introduction of the ‘Roof Solar Investment Loan’ product to support capital for customers, especially small and medium-sized enterprises, along with the comprehensive cooperation program with DAT, will further promote the development of the rooftop solar market in Vietnam.”

The strategic collaboration between the two parties is a significant milestone, marking the successful implementation of solar installations through financing, enhancing the effectiveness of investment, and contributing to the development of the renewable energy industry and environmental protection. It also affirms DAT’s leading EPC capabilities in the solar energy sector in Vietnam.

Mr. Van Dat Tieu, CEO of DAT Group, added: “With over 17 years of experience and expertise as the EPC contractor for large industrial projects and the capacity to supply equipment on a scale of hundreds of MWp per month, DAT commits to always accompany OCB in providing customers and investors with high-performance solar systems and support services throughout the project lifecycle. Additionally, we contribute to fulfilling international commitments that Vietnam participates in, such as environmental protection, reducing CO2 emissions, addressing climate change, and alleviating pressure on the national power grid.”

Through this cooperation agreement, DAT and OCB will strive to bring numerous outstanding benefits to businesses and solar investors, solving the capital challenge and increasing business efficiency. Together, they contribute to spreading the message of solar energy development, participating in the development of a green planet.

DAT GROUP JOINT STOCK COMPANY

For over 17 years, DAT has been a leading technology company in the Vietnamese market in the fields of inverter technology, elevator control, solar energy, UPS & energy storage. In the solar energy sector, DAT is both an EPC contractor and a comprehensive equipment supplier from renowned global brands such as Canadian Solar, INVT, SMA, Sungrow. It consistently delivers genuine products, cutting-edge technology, ensuring an adequate supply of quality products for projects. As of September 2023, DAT has provided and implemented more than 10,000 rooftop solar projects with a total capacity of nearly 800 MWp nationwide.

ORIENT COMMERCIAL JOINT STOCK BANK (OCB)

Orient Commercial Joint Stock Bank (OCB) was established on June 10, 1996. Over 24 years of operation and development, OCB has maintained the principle of customer-centricity, continuously researching and developing financial products and services that are suitable for its customers. Currently, OCB has more than 200 business units spread across provinces, centrally and economically important areas nationwide. It is considered one of the banks with good and stable growth rates in the system of financial institutions in Vietnam over the past five years.